If you're a collector of rare and exotic investment books, you probably don't have a girlfriend, but may be happy to learn that Christopher Dennistoun's collection of 750 books on investments and financial speculation is up for sale at Bernard J. Shapero Rare Books in London. While the catalog is not yet on the website, the Financial Times discussed the collection.
With a focus on antiquarian books covering such events as the tulip mania of the 1630s, the stock-jobbers of London, and the speculation of the 1920s, I agree with Financial Times assessment. This collection will almost certainly be scooped up a hedge fund manager.
For those of us who can't afford the £375,000 ($750,000), here are two of my recommendations for learning a little something about the history of financial speculation. Both of these highly enjoyable books provide insight into the psychology of markets.
The Coffee Trader by David Liss is my favorite fictional financial book of all time. Set in 17th century Amsterdam, it follows the travails of Miguel Lienzo, a Portuguese commodities trader who makes an elaborate effort to recoup his wealth through an elaborate scheme to corner the coffee market.
Short History of Financial Euphoria by John Kenneth Galbraith is a slim volume that recounts all the big market manias and crashes from the 1600s through 1987.
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